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CSPAN
Feb 4, 2013 12:00pm EST
. it was the right thing to do. it was the right thing to extend the debt ceiling of our nation because it allows us to pay the bills that we have already incurred. there isn't one dime of new spending that's authorized under the legislation we approved. my only regret is that we didn't extend it for a longer period of time, giving greater certainty to the financial markets. for you see that if we were to ever violate the debt ceiling, the consequences would be that the taxpayers of this country would have to pay more for the obligations of our nation and interest costs. it would permanently damage the reputation of this nation as far as our ability to pay our bills. it would be counterproductive to everything we're trying to do to help the taxpayers of america. so it was the right thing for us to do to extend the debt ceiling, but we still have a lot more work we need to do. our current accumulation of debt is not sustainable. we can't continue to spend what we're spending today and collect what we're collecting today in revenue and sustain the fiscal integrity of the united states. we spend too mu
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